KRA's New Tax Rules

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In this morning's edition, we take a look at KRA’s new tax debt repayment plans, and reporting controls set to kick in next year, and how Naivas’ profits rose by 43% despite a complex macroeconomic environment in the country.

KRA’s New Tax Debt Payment Plan and Reporting Controls

By Chelsy Maina

The Kenya Revenue Authority (KRA) has announced two measures affecting taxpayers: an Automated Payment Plan (APP) for settling tax debts in installments, a new system for validating income and expenses declared in tax returns starting next year.

The two changes mark a shift toward tighter oversight and more automated enforcement in Kenya’s tax system. While the payment plan could offer short-term relief for struggling taxpayers, the upcoming validation process will likely increase scrutiny of business records and electronic invoicing compliance.

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Afreximbank Extends US$ 36.4mn Contract Financing for Uganda's AFCON Stadium

By TKWS Reporter

The African Export-import Bank (Afreximbank) has extended a US$ 36.4-million contract financing facility to Egypt’s SAMCO-National Construction Company (SAMCO) for the construction of the Akii Bua Olympic Stadium in Uganda.

  • The Akii Bua Olympic Stadium, located in Lira, Uganda, will host some of the 2027 Africa Cup of Nations (AFCON) games which Uganda is co-hosting with Kenya and Tanzania.

  • The financing will finance SAMCO in the design, construction and development of the stadium project and in the acquisition of essential components.

  • The 2027 AFCON games will mark the first time the continental tournament will be hosted in East Africa since 1976 when it was hosted by Ethiopia.

While initial reports indicated the three countries would each provide three stadiums in two cities, the scope of the tournament has since expanded to more cities. Tanzania is constructing two stadiums, the 30,000-seater Samia Suluhu Hassan Stadium in Arusha, and the 32, 000-seater Dodoma Stadium in Dodoma. Kenya is constructing the 60,000-seater Talanta Sports Stadium.

In addition to Akii Bua, Uganda is also constructing a 20,000-seater stadium in Hoima.

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